If you opened your ComEd bill in 2024 and did a double take — you're not alone. Thousands of Illinois businesses saw their electricity costs jump by 30% to 47% seemingly overnight. No warning. No explanation. Just a dramatically higher bill.
This article explains exactly why it happened, who is most affected, and — most importantly — what you can do right now to stop it from happening again.
ComEd is the utility that delivers electricity to most of northern and central Illinois. As a regulated utility, ComEd doesn't generate electricity — it buys it on the wholesale market and passes that cost directly to customers on the default "supply" rate.
In 2024, that wholesale cost exploded for two key reasons:
Illinois sits within the PJM Interconnection, the regional grid operator covering 13 states. Every year, PJM runs a "capacity auction" where power generators bid to guarantee electricity availability for the following year. In the 2024/2025 auction, capacity prices surged over 800% compared to prior years — a direct result of aging power plants retiring faster than new generation is being built.
Those capacity costs get passed directly into the rates that ComEd charges customers on the default supply rate. Businesses on default rates absorbed the full impact immediately.
A large percentage of PJM's electricity is still generated by natural gas plants. When gas prices spike — due to extreme weather, export demand, or supply disruptions — electricity generation costs follow. The 2024 winter and summer seasons both brought demand spikes that drove gas-linked power costs higher across the region.
The core problem: If your business is on ComEd's default supply rate, you have no protection from these market swings. Every time wholesale electricity costs go up, your bill goes up automatically. Businesses with fixed-rate supplier contracts don't have this problem — their rate is locked regardless of market conditions.
The businesses that felt the 2024 rate spike most severely share one thing in common: they were still on ComEd's default supply rate. This includes:
Yes. Illinois has had a fully deregulated electricity market since 1997. This means businesses in ComEd's service territory are not required to buy electricity from ComEd. You can purchase your electricity supply from any of dozens of licensed competitive energy suppliers — and ComEd will still deliver it to your building through their wires.
The delivery charge (wires, infrastructure, meters) stays with ComEd. But the supply charge — which is typically 40-60% of your total bill — can be sourced from a competitive supplier at a fixed rate, often significantly below what ComEd charges on their default variable rate.
The problem is that most businesses either don't know this, or don't have the time to research 30+ suppliers and negotiate contracts. That's where an energy broker comes in.
Look at your ComEd bill. Find the "Supply" section. If it says "ComEd Supply" or "Price to Compare" or "Default Supply Rate," you are on ComEd's default variable rate and you are exposed to every market swing.
The Illinois retail electricity market has over 30 licensed suppliers actively competing for commercial business. Each one prices their product differently based on contract length, usage volume, and risk tolerance. To get the best rate, you need bids from all of them simultaneously.
The capacity auction results for 2025/2026 are already pointing toward continued price pressure. Businesses that lock in a fixed-rate contract now are protected. Those that wait roll the dice on another spike.
Energy brokers do this at zero cost to you. A licensed broker like Energy Deregulator submits your load to all available suppliers simultaneously and presents you with a ranked comparison of bids. The broker fee is paid by the winning supplier — not by your business. You get professional procurement at no charge.
Savings vary by usage volume, location, contract term, and current market conditions. But based on contracts negotiated for Illinois commercial clients in 2024 and early 2025, typical outcomes look like this:
Use our free savings calculator to get an instant estimate based on your monthly bill amount.
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